Friday 23 October 2009

This recession just became a depression

Telegraph
"The GDP fall, as you may have seen elsewhere, means that this is now the longest technical recession since at least 1955 (and most probably since the 1930s, though the ONS doesn’t have figures on this) at six quarters, or a year and a half, long. The late 1970s/early 1980s slump was deeper, but was not a long uninterrupted period of economic output falls. ......It shatters any delusions that Britain is “well placed” to withstand the recession".
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Britain is still mired in recession, latest numbers show

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